Certain BlackRock Closed-End Funds Announce Renewal of Share Repurchase Programs
September 07 2018 - 5:00PM
Business Wire
BlackRock Advisors, LLC announced today that the Boards of
Directors/Trustees of twenty BlackRock taxable fixed-income and
equity closed-end funds (the “Funds”) have authorized the renewal
of open market share repurchase programs (the “Repurchase
Programs”). Under each Fund’s current Repurchase Program, each Fund
may repurchase, through November 30, 2018, up to 5% of its
outstanding common shares (based on common shares outstanding on
November 30, 2017) in open market transactions. Pursuant to the
Board’s renewal of the Repurchase Programs, commencing on December
1, 2018, each Fund may repurchase up to 5% of its outstanding
common shares (based on common shares outstanding on November 30,
2018) in open market transactions through November 30, 2019. The
Repurchase Programs seek to enhance shareholder value by purchasing
Fund shares trading at a discount from their net asset value
(“NAV”) per share, which could result in incremental accretion to a
Fund’s NAV.
The Funds that have authorized the renewal of a Repurchase
Program are as follows:
Ticker (NYSE)
Fund CUSIP BGR BlackRock Energy and
Resources Trust 09250U101 CII BlackRock Enhanced
Capital and Income Fund, Inc. 09256A109 BDJ BlackRock
Enhanced Equity Dividend Trust 09251A104 BOE
BlackRock Enhanced Global Dividend Trust 092501105 BME
BlackRock Health Sciences Trust 09250W107 BGY
BlackRock Enhanced International Dividend Trust 092524107
BCX BlackRock Resources & Commodities Strategy Trust
09257A108 BST BlackRock Science and Technology Trust
09258G104 BUI BlackRock Utilities, Infrastructure
& Power Opportunities Trust 09248D104 BBN
BlackRock Taxable Municipal Bond Trust 09248X100 BHK
BlackRock Core Bond Trust 09249E101 HYT BlackRock
Corporate High Yield Fund, Inc. 09255P107 BTZ
BlackRock Credit Allocation Income Trust 092508100 EGF
BlackRock Enhanced Government Fund, Inc. 09255K108
FRA BlackRock Floating Rate Income Strategies Fund, Inc.
09255X100 BGT BlackRock Floating Rate Income Trust
091941104 BKT BlackRock Income Trust, Inc.
09247F100 BLW BlackRock Limited Duration Income Trust
09249W101 BIT BlackRock Multi-Sector Income Trust
09258A107 DSU BlackRock Debt Strategies Fund, Inc.
09255R202
The amount and timing of any repurchases under each Fund’s
Repurchase Program will be determined either at the discretion of
the Fund’s management or pursuant to predetermined parameters and
instructions subject to market conditions. There is no assurance
that any Fund will repurchase shares in any particular amounts. A
Fund’s repurchase activity will be disclosed in its shareholder
report for the relevant fiscal period. Any repurchases made under
any Fund Repurchase Program will be made on a national security
exchange at the prevailing market price, subject to exchange
requirements and certain volume and timing limitations and other
regulations under federal securities laws.
About BlackRock
BlackRock helps investors build better financial futures. As a
fiduciary to our clients, we provide the investment and technology
solutions they need when planning for their most important goals.
As of June 30, 2018, the firm managed approximately $6.3
trillion in assets on behalf of investors worldwide. For additional
information on BlackRock, please visit www.blackrock.com | Twitter:
@blackrock | Blog: www.blackrockblog.com | LinkedIn:
www.linkedin.com/company/blackrock.
Availability of Fund Updates
BlackRock will update performance and certain other data for the
Funds on a monthly basis on its website in the “Closed-end Funds”
section of www.blackrock.com as well as certain other material
information as necessary from time to time. Investors and others
are advised to check the website for updated performance
information and the release of other material information about the
Funds. This reference to BlackRock’s website is intended to allow
investors public access to information regarding the Funds and does
not, and is not intended to, incorporate BlackRock’s website in
this release.
Forward-Looking Statements
This press release, and other statements that BlackRock or a
Fund may make, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, with
respect to a Fund’s or BlackRock’s future financial or business
performance, strategies or expectations. Forward-looking statements
are typically identified by words or phrases such as “trend,”
“potential,” “opportunity,” “pipeline,” “believe,” “comfortable,”
“expect,” “anticipate,” “current,” “intention,” “estimate,”
“position,” “assume,” “outlook,” “continue,” “remain,” “maintain,”
“sustain,” “seek,” “achieve,” and similar expressions, or future or
conditional verbs such as “will,” “would,” “should,” “could,” “may”
or similar expressions.
BlackRock cautions that forward-looking statements are subject
to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are
made, and BlackRock assumes no duty to and does not undertake to
update forward-looking statements. Actual results could differ
materially from those anticipated in forward-looking statements and
future results could differ materially from historical
performance.
With respect to the Funds, the following factors, among others,
could cause actual events to differ materially from forward-looking
statements or historical performance: (1) changes and volatility in
political, economic or industry conditions, the interest rate
environment, foreign exchange rates or financial and capital
markets, which could result in changes in demand for the Funds or
in a Fund’s net asset value; (2) the relative and absolute
investment performance of a Fund and its investments; (3) the
impact of increased competition; (4) the unfavorable resolution of
any legal proceedings; (5) the extent and timing of any
distributions or share repurchases; (6) the impact, extent and
timing of technological changes; (7) the impact of legislative and
regulatory actions and reforms, including the Dodd-Frank Wall
Street Reform and Consumer Protection Act, and regulatory,
supervisory or enforcement actions of government agencies relating
to a Fund or BlackRock, as applicable; (8) terrorist activities,
international hostilities and natural disasters, which may
adversely affect the general economy, domestic and local financial
and capital markets, specific industries or BlackRock; (9)
BlackRock’s ability to attract and retain highly talented
professionals; (10) the impact of BlackRock electing to provide
support to its products from time to time; and (11) the impact of
problems at other financial institutions or the failure or negative
performance of products at other financial institutions.
Annual and Semi-Annual Reports and other regulatory filings of
the Funds with the Securities and Exchange Commission (“SEC”) are
accessible on the SEC's website at www.sec.gov and on
BlackRock’s website at www.blackrock.com, and may discuss
these or other factors that affect the Funds. The information
contained on BlackRock’s website is not a part of this press
release.
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